Insider Selling: C3.ai, Inc. (NYSE:AI) CFO Sells $167,279.64 in Stock

C3.ai, Inc. (NYSE:AI) CFO Hitesh Lath sold 3,949 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total value of $167,279.64. Following the completion of the transaction, the chief financial officer now owns 851 shares in the company, valued at $36,048.36. This trade represents a 82.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hitesh Lath also recently made the following trade(s):

• On Monday, December 9th, Hitesh Lath sold 11,339 shares of C3.ai stock. The shares were sold at an average price of $42.00, for a total value of $476,238.00.

C3.ai Stock Down 10.7 %

Shares of NYSE AI opened at $35.45 on Friday. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08. The company has a market cap of $4.50 billion, a P/E ratio of -16.04 and a beta of 2.00. The business’s 50 day moving average is $31.59 and its two-hundred day moving average is $28.03.

Wall Street Analysts Forecast Growth

AI has been the topic of several recent research reports. Canaccord Genuity Group raised their price objective on shares of C3.ai from $23.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Northland Securities lifted their price objective on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. downgraded shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research report on Wednesday, December 11th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Finally, KeyCorp downgraded C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price target for the company. in a research note on Thursday. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, C3.ai presently has a consensus rating of “Hold” and an average target price of $35.00.

Hedge Funds Weigh In On C3.ai

A number of institutional investors and hedge funds have recently bought and sold shares of AI. Geode Capital Management LLC boosted its holdings in C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares during the period. State Street Corp lifted its stake in shares of C3.ai by 1.8% in the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after buying an additional 38,185 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of C3.ai by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after buying an additional 92,280 shares during the period. Bank of New York Mellon Corp grew its position in C3.ai by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after buying an additional 1,929 shares in the last quarter. Finally, Raymond James & Associates increased its stake in C3.ai by 11.5% during the second quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock valued at $5,829,000 after acquiring an additional 20,753 shares during the period. Institutional investors own 38.96% of the company’s stock.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.